NEWSSTIME WITH BGG and Co. – Tuesday, February 21, 2017

BGG says(6:41 PM):
first off - I wanna' make sure I thank all the people here and everywhere who make Dinar Updates what it is - THANK YOU ALL!!

BGG says(6:42 PM):
Mrs BGG would you mind saying a quick prayer to start us off right??

MrsBGG says(6:43 PM):
Dear Heavenly Father, we come to You by the Blood of Jesus! Thank You for Your Amazing Grace, Mercy, & Forgiveness! We love you and trust You Lord. Thank You that You are our Healer. Thank You for rivers of living water. Thank You Holy Spirit for Your leading & guiding. Thank You for pouring Your love into our hearts. Thank You for the body of Christ and our brothers & sisters in Christ. We pray for the soldiers in Iraq and all military leaders over there that You will continue to protect them and give them wisdom. Thank You that You are our Shield. Thank You for each person who serves on this site and each person who is here, we pray that You will bless them and their families and keep them. We give You all the glory, honor, & praise! In Jesus Name, Amen.
Okie Dinar says(6:43 PM):
Amen!
loop says(6:43 PM):
Amen
wilson6060 says(6:43 PM):
Amen
pacella says(6:43 PM):
Amen
wvchsr says(6:43 PM):
Amen
morris says(6:43 PM):
Amen
Wiley says(6:43 PM):
AMEN
MadDScout says(6:43 PM):
Amen
hunter59 says(6:43 PM):
AMEN
Dinarian1 says(6:43 PM):
Amen!
dale says(6:43 PM):
Amen
jake1 says(6:43 PM):
amen
SRW says(6:43 PM):
Amen
magnetlady says(6:43 PM):
AMEN
eman4u55 says(6:43 PM):
Amen
jfinny says(6:43 PM):
amen
ABNewsflash says to BGG(6:43 PM):
Amen
dinarforme says(6:43 PM):
AMEN
bubbles says(6:43 PM):
Amen I thought it was a call said that on FB
Carl_H says(6:43 PM):
Amen
sassy says(6:43 PM):
Amen
inthehse says(6:44 PM):
amen
BGG says(6:44 PM):
Amen
inthehse says(6:44 PM):
Amen
beachandcountry says(6:45 PM):
AMENMrsBGG says(6:44 PM):
Welcome everyone to News Time tonight!!
If there is anyone new here tonight, during News Time if you have a question or comment, please use a ?, and we will call on you...
Usually there will be a time @ the end of the News Researchers discussing articles..so please wait for the Q & A part of News time Thank you for your understanding..

The News Researchers are welcome to comment on the articles...

It makes it easier for the readers and copiers...thank you!

sit back, relax and enjoy!!

eman4u55 says(6:47 PM):
({)

BGG says(6:47 PM):
Ok - How about that News Day we had today - huh?!?

clay01 says(6:47 PM):
(y)

MadDScout says(6:47 PM):
(y)
BGG says(6:47 PM):
and if I hear one person pipe up with something like - is there any good NEWS?!?

BGG says(6:48 PM):
I am gonna' lose my *&^%!!

loop says(6:48 PM):
Amazing news day.
BGG says(6:48 PM):
and that is the word I used the other nite too

BGG says to loop(6:49 PM):
totally agreed - there is no way we can cover it all... not on a News Chat AND a call - it could go on and on...

BGG says to loop(6:49 PM):
this news cycle is LEGIT

BGG says to loop(6:50 PM):
I don't even know - what do you think was the best of the day??
loop says(6:51 PM):
There were more then a few worthy articles.

BGG says to loop(6:51 PM):
Yes there were...

jeffjane says(6:51 PM):
?

MrsBGG says to jeffjane(6:51 PM):
Please wait until Q & A

loop says(6:52 PM):
I think the one that I first posted this am is a great place to start.
loop says(6:52 PM):Former central bank governor: Maliki wasted money building a new home can accommodate for 30 million peoplePolitical scene Tuesday February 21, 2017 time 10:32BAGHDAD / Sky PressFormer Iraqi Central Bank Governor Sinan al-Shabibi, Tuesday, that the former prime minister and leader of a coalition of state law, Nuri al-Maliki received more money than all the rulers of the Republic of Iraq together of Abdul Karim Qasim leader Saddam Hussein, and squandered.Shabibi said in an interview I followed "Sky Press," "The money received by al-Maliki was enough to build a new home can accommodate up to 30 million people," noting that "al-Maliki appointed four members of his ruling party big positions within the central bank. They are not for professional even affected The central bank took a random spread widely, and they Director-money laundering department, the director of the legal department, and director of banking surveillance, and Director of the economic Department. "He added that "corruption was rife within the central bank by colleagues Maliki in the party," adding that "the Director-money laundering department allocates money laundering Iraq in favor of the ruling party and legal director of the gloss upon the Director of the banks monitor traders taking sold dollars to private banks associated with the ruling party and president Minister, lower than the market, which amounts to make Iraq lose millions of dollars a day because of this corruption and the smuggling of government budget funds abroad in favor of al-Maliki and Gelaozath. "He Shabibi "when he decided to change them came to him a letter from the prime minister prevented him from removal of these corrupt and between the lines of the book veiled threat, and that when the first elements of the gang of corrupt beyond mad Maliki issued by his partner and friend, Medhat al-Mahmoud arrest warrant after he was in Switzerland lecturing about the new monetary policy within the international symposium for the International monetary Fund. "Shabibi and between that "then appointed al-Maliki called on the Keywords central bank governor to plunder every provision of the Iraqi state in the amount of $ 67 billion in the last days of his dominance on the government to hand over power to Haider Alebadiomizanah Iraq empty and the Reserve Central Bank ravished, to enter Iraq in a major financial crisis can not advancement including a decade later, even if oil prices improved today. "Shabibi He pointed out that "al-Maliki receive more money than all the rulers of the Republic of Iraq" together "of Abdul Karim Qasim leader Saddam Hussein, was being investigated by any unfinished mention the Iraqi people and homeland, it was enough to build a new home according to the latest international standards, can accommodate up to 30 million people live in which the welfare and stability will be security for all people in the world to live in. "Source
BGG says to loop(6:53 PM):
Totally agree - this trend of angst towards Maliki has been building for a few days now (at least publicly)...

BGG says to loop(6:53 PM):
we saw the first murmurings by Abadi a few days ago...

loop says(6:53 PM):
Shabib held nothing back and this story was picked up by four other news outlets
BGG says to loop(6:54 PM):
then his meeting with officials at the Hague while he was up there this weekend.

BGG says to loop(6:55 PM):
"World Court" officials.
loop says to BGG(6:56 PM):
I remember thinking to myself at the time. Wonder what they really are meeting about?

BGG says to loop(6:56 PM):
THEN we have Abadi questioning he didn't know what Maliki was up to ordering all the northern forces to withdraw...

BGG says to loop(6:56 PM):
Lemme' get that article.

BGG says(6:56 PM):
Ebadi: I did not understand Nuri al-Maliki orders the withdrawal of three teams from Mosulhttp://www.dinarupdates.com/blog/
loop says to BGG(6:56 PM):
BOOM!

BGG says(6:57 PM):
..."It is terrible what he did Nuri al-Maliki on the sinner’s military which made the Iraqi army lost key and its airport city of Mosul and maintain the entire giving orders to withdraw three teams from the Iraqi army comprised 60,000 troops to withdraw and leave the vehicles and tanks and armored vehicles and artillery with ammunition to come Daesh and seize Mosul and the province and the entire military weapons of the three teams, which are valued at more than $ 12 billion."...

BGG says(6:58 PM):
Here are some comments on the subject you made earlier...

loop says to BGG(6:58 PM):
He put the whole reason that Daesh is in Iraq firmly at Maliki's feet!

BGG says(6:58 PM):
Loop ~ What is very encouraging about what is going on with regards to Maliki is that there is a common narrative that is being presented via the media. That is that the reason that Iraq is in the current financial crisis is because of the actions of Maliki. He stole the lions share of the money, he killed or jailed anyone who opposed he, and he allowed Daesh to take over Mosul. IMO.. There is much more to the meeting in Geneva between Abadi and the representatives from the International Criminal Courts (Hague).

BGG says to loop(6:59 PM):
Which has been hard for anyone to do - up until now. Obviously - those in the know are fully aware... however, with Maliki's internal political strength, it has been hard to go directly at him like this. He has been so powerful.

BGG says to loop(6:59 PM):
Not so much these days.

BGG says to loop(7:00 PM):
in fact, here is the next chapter - hang on.

loop says to BGG(7:00 PM):
I seems like Maliki's day as a free man may be coming to an end.

BGG says to loop(7:00 PM):
BRB

loop says to BGG(7:00 PM):
The World Bank and the Secretary General of the UN have made a very clear demand. The Iraqi’s must enter into a meaningful national reconciliation process and that will be very hard for them to do with the poster boy for corruption and sectarianism walking around free.Only time will tell whether my suspicions are correct or not.

BGG says to loop(7:01 PM):
I really think you may be right.

BGG says to loop(7:01 PM):
I am thinking the same thing - or have been for a while now.

BGG says to loop(7:01 PM):
but it looks no harder than dealign with Mosul

BGG says(7:02 PM):
News Network Iraq , Prime Minister of Iraq , Haider al - Abadi said on Tuesday that so far did not understand why gave Nuri al - Maliki " the withdrawal is" to army troops in Mosul on 06/09/2014 specifically for the three divisions of the Iraqi army to withdraw from Mosul, leaving their weapons and tanks for Daesh and to come to Baghdad.

BGG says(7:02 PM):
Ebadi said in a press statement today: Nuri al - Maliki has committed treason on this withdrawal , which make the Iraqi army loses its entirety by giving orders to withdraw three teams from the Iraqi army was up more than 60 thousand troops and leave the vehicles and tanks and armored vehicles and guns with ammunition to come Daesh and seize the province of Nineveh the province of Mosul and the whole weapons of the three military teams and that more than $ 12 billion Dolar.ookd

BGG says(7:03 PM):
Abadi that the fall of Mosul , however Daesh by Maliki ordered the withdrawal of army troops and the resulting displacement and killing, displacement and wasting more than $ 300 billion due to the fall of the provinces of Mosul, Anbar, Salah religion bears responsibility Nuri al - Maliki and leaders at the time will soon eliminate al - Maliki to charges of "high treason".
loop says to BGG(7:03 PM):
When I saw Pat bring this article into the news forum my jaw hit the keyboard!!

BGG says(7:08 PM):
We been posting it all day long - The Forum - first thing on the Chat Room... on THE BLOG ( http://www.dinarupdates.com/blog/ ) and I'm sure the NEWS HAWKS in the FaceBook group picked it up... other than that nahhhhh...
jetset says to BGG(7:08 PM):
({)

dale says(7:08 PM):
Would it be reasonable. to draw a correlation that Shabibi and Abadi are coming out against Maliki now because financial reform is drawing close?

BGG says(7:08 PM):
(we could really use you tuning in once a while - click on some stuff... thanks for the support)

jeffusa says to loop(7:10 PM):
interesting that it was the same day as Abadi's post... at least to me
loop says to jeffusa(7:10 PM):
agree 100%

BGG says to jeffusa(7:10 PM):
P.S. since you are a fellow "low carber" - save this one www.TheLowCarbBlog.com - but of course, you'll have to actually go there and click on something - I start detailing how I lost 44lbs tomorrow.
MrsBGG says to beachandcountry(7:11 PM):
Go

beachandcountry says(7:12 PM):
things r definately looking good for them to come out publicly against Maliki finally! reconcilation coming together(y)

BGG says to dale(7:14 PM):
I don't know if that is the right conclusion. There was a vague reference to the IMF making some upcoming decisions about their bond offerings and international acceptance. If Mosul and then some version of National Reconciliation is the price tag... Maliki cannot stay. He is a "serial fomenter"... we use the word "sectarian" - but it's really racism.

BGG says(7:15 PM):
Ok gang - one quick article and then we have to go - get ready for the call.

BGG says(7:15 PM):
Raise the price of the Iraqi dinar to the fore again

Some Iraqi economist calls for the government to lift the Iraqi dinar exchange rate against the dollar until the rising purchasing power and increasing confidence it represents the sovereignty of Iraq, and calling for the need to stop the «dollarization» economy by preventing the deal internally by making local transactions are limited to the use of the Iraqi dinar only.

It must be pointed out that 70 percent of the currency in circulation was covered in gold and foreign currencies until 1981, and the remaining bonds Iraqi government (currency) Act, and Iraq was then applied to the remnants of the gold standard system. In order to maintain the cover, successive governments have continued to link fiscal policy, especially current spending and investment, the status of the balance of payments, and the latter was determined by the government’s revenue from oil exports. But the success of this linkage administrative restrictions applied to the outside, both the conversion, trade in goods, services and movement of capital. Thus followed the monetary and fiscal policies the province has maintained the stability of the Iraqi dinar is installed by the Central Bank of $ 3.2 dinar.

And it gave a commitment to cover the dinar ease monetary authority in the exercise of its duties, where he was only concerned with maintaining the stability of the currency, but that check on economic development that have not been spending the expense of the adequacy of fear that increased spending affect the stability of the currency. But during the Iraq war – Iran that caused Ptlashi Iraq precautions huge foreign currency, the Iraqi government abandoned the currency law and began to spend on the war without quantitative restrictions, causing a continuous decline in the dinar exchange rate against the dollar and other major foreign currencies, because of the increasing gap between the Iraqi currency supply and demand. And increased the economic embargo imposed on Iraq in 1991 it worse. Despite holding the government at official exchange rate (US $ 3.2) for official transactions, resulting from the continuation of the growing imbalance between the currency volume in circulation and demand for another rate of the dinar is the parallel market rate or the black market, we arrived at certain times to 4000 dinars to the dollar.

After the occupation of Iraq in 2003, and lift the ban on oil exports and reserves of foreign currency deposits abroad and the resort’s central bank to regulate the daily auctions to sell the dollar, which means the withdrawal of part of the local currency, the value of the Iraqi dinar to rise began gradually until it reached 1200 dinars to the dollar, and remained range around this average. And deprived the Iraqi – Iranian war conditions and the economic blockade after the Iraqi dinar many regarded as a store of value and medium of circulation, what caused the shift most transactions at home and especially internal trade in goods and services, to the dollar, and thus has «dollarization» of the Iraqi economy.

From this background on how the Iraqi dinar exchange rate over the last 36 years the price of change, and how it has «dollarization» economy, it is time to discuss the claims of some economists now demanding higher when the dinar exchange rate and stop «dollarization».

Since more than four years and officials in Iraq are talking about a project monetary reform in which to raise the Iraqi currency exchange rate against the dollar so that the new dinar equals 1.2 dinars to the dollar instead of 1200. But the move was postponed to a later date due to the exit of some Iraqi areas under government control after the occupation of «Daesh» her. Then the military operations began to recover these areas which still exist. The government is expected to return to the project itself after the end of military operations. If the monetary reform is successful, there will no longer need to use the US dollar in local transactions. The latter earned after the completion of daily transactions difficult with the arrival of the dollar value of one thousand dinars to become, making individuals resort to dealing in dollars instead of the dinar, especially in large transactions in the hoarding of currency. So can not be canceled «dollarization» Iraqi economy administrative decision or administrative orders of the monetary authority, but will be gone phenomenon gradual demise of the reasons that led to it, that is, after the above are monetary reform referred to, because the dinar will then mode for easy handling and a store of value obviates the use of the dollar.

But monetary reform as mentioned above does not mean setting a new official exchange rate of the dinar against the dollar. If under the floating exchange rate as it is currently, the rise or fall according to the relationship between the width of the dinar and demand, the higher the stability of the dinar against the display or low demand, price declines cashed in against the dollar. And it gets the contrary, if the width of the dinar fell against the stability or rising demand. The monetary authority may resort to the installation of the new exchange to the dollar or to a basket of currencies. But in any case, is not advisable to adopt a high exchange rate, it does not give effect to the economy or raise the value of national sovereignty, as some believe, but have negative effects in the economy. The price of the Iraqi dinar former (US $ 3.2) was exaggerated and will continue to be overrated if has to return to it in the future. It will make imports cheaper, but it hinders improvement of production and export capacity of Iraq, may be the price of 1.2 dinars to the dollar or dinar against the dollar is a good price. But on the government to follow the fiscal and monetary policies that help to maintain it. So we can say that the calls that we hear today the lifting of the dinar exchange rate and the abolition of «dollarization» claims the economy is not right for your first or can not be achieved by the monetary reform for the second.